AERIS RESOURCES LIMITED — Capital/Financing Update 2012

Apr 22, 2012

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Straits

23 April 2012

ASX/MEDIA RELEASE

STRAITS RESOURCES LIMITED (ASX: SRQ)

Spectacular assay result returned for TATD017 - Avoca Tank Prospect

Further to our announcement to the ASX on the 18[th] April 2012 “Drilling resumes at the Avoca Tank Prospect (massive sulphide zone) first hole has returned a visually stunning sulphide intercept”, Straits wishes to update the market with respect to the assay result returned for TATD017.

84 metres @ 2.86% Cu, 0.88 g/t Au, 12 g/t Ag and 0.95% Zn from 395 metres downhole*

This zone contains the following higher grade intercept;

411 – 468m 57m @ 4.00% Cu, 1.27% Zn, 0.99 g/t Au, 15 g/t Ag (0.5% cut-off, max 3m internal waste)

Including;

423 – 440m 17m @ 5.60% Cu, 1.26% Zn, 0.85 g/t Au, 19 g/t Ag (5.0% cut-off, max 3m internal waste) And 455 – 467m 12m @ 6.38% Cu, 1.09% Zn, 1.46 g/t Au, 20 g/t Ag (5.0% cut-off, max 3m internal waste)

*note: 84 metre intercept calculated using a 0.5% cut-off and up to 6m internal waste

TATD017 – Location 484850mE 6548590mN (in AGD66), Dip -60, Azimuth 228 (magnetic), and 210 RL

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Long-section of the Avoca Tank Prospect drilling

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Cross-section Avoca Tank Prospect drilling

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Avoca Tank located approximately 2 km north of the current Northeast/Larsen’s Mine infrastructure.

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Assay results for TATD017 confirm the significance of the Avoca Tank discovery.

Drilling continues with a further 5 holes planned in the short term to test along strike and at depth of the identified mineralisation.

The seventeen holes drilled so far (eighteenth currently underway) have only covered a very small portion of the larger Avoca Tank Complex (ATC) and the potential for further discoveries remains extremely high.

For further information, please contact:

Mr. Milan Jerkovic – Chief Executive Officer or

Mr. Dave Greenwood – EGM External Affairs and Exploration Tel: +61 8 9480-0500, or visit our website at www.straits.com.au

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Competent Persons Statement

The information in this report that relates to Exploration Results, Mineral Resources and Ore Reserves is based on information compiled by Mr. Ivan Jerkovic who is a Member of the AusIMM no. 202260 (Australasian Institute of Mining and Metallurgy) and the AIG no. 3099 (Australian Institute of Geoscientists). Mr. Jerkovic is a full time employee of Straits Resources Limited and has sufficient experience relevant to the style of mineralisation, type of deposits under consideration and to the activity being undertaking to qualify as Competent Persons as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr. Jerkovic consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.

Forward-Looking Information

Certain statements contained in this press release constitute forward-looking statements or forward-looking information. The words “intend”, “may”, “would”, “could”, “will”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. These statements are based on certain factors and assumptions and while Straits considers these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking statements are given only as at the date of this release and Straits disclaims any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

About Straits Resources

Straits Resources Ltd (ASX Code: SRQ) is a mining and exploration company focused on copper and gold in Australia and Asia. Straits owns and operates the Tritton copper mine in NSW and the Mt Muro gold mine in Indonesia and has an exciting exploration portfolio focusing on projects in NSW and South Australia.